The Reno real estate market has been on fire recently but even with national and local real estate growth looking great, there have been rumors of a decline. The good news is these rumors of a ‘new market meltdown’ are not based on any reputable data. Last week we highlighted what the Wall Street Journal had to say. Here are some comments from Real Estate experts who also think the current housing market is looking great.
“In spite of deficient supply levels, stock market volatility and the paltry economic growth seen so far this year, the housing market did show resilience and had its best first quarter of existing-sales since 2007.”
“We had a triple crown of April home sales reports, so 2016 is in the pole position to earn best year of home sales in a decade.”
“I'm calling the end of the housing “recovery.” On to ‘expansion.’”
“Despite the disappointing economic reports, we still forecast housing to maintain its momentum in 2016.”
“A recent gauge of home builder sentiment held firmly in positive territory, according to the National Association of Home Builders. Perhaps more important, expectations for sales in the next six months jumped to the highest level of the year.”
“Our latest housing tracker shows that the first quarter of 2016 was the second fastest first quarter pace of home sales in the past decade... Home sales typically rise in the spring and summer months, and we anticipate an acceleration in home sales that will surpass 2007's pace by late summer.”
As you can see, experts are optimistic about our current conditions. If you have questions about the Reno housing market or would like to know what your home is worth call Marshall Realty at (775) 787-7400 today!